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Benefits 1 and 2 in the 'Pros and Cons of Patents' significantly throws light on the opportunity of owning a market, and securing funds respectively.
What is the primary importance of benefits 1 and 2?
Benefit 1 of 'Pros and Cons of Patents' is about the possibility of owning a market.
Since the US government will protect your creation for 20 years, you will essentially control the market for that product during that time. For instance, Eli Lilly invented Prozac in 1987 and had the monopoly for 14 years until 2001.
Benefit 2 of 'Pros and Cons of Patents' concerns around attracting and accumulating the sources of funding and investors.
If an invention is not protected, no one will put their money at risk The only way an invention can ensure a return is through patent protection since investors don't care about good intentions; they only care about money.
Learn more about 'Pros and Cons of Patents' here:
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Answer:
According to the article, patents allow inventors to “own the market” for their ideas, meaning the US government has deemed the idea original and protected the idea from being reproduced by others for 20 years. This makes the idea more marketable, which allows the inventor to attract investors. These benefits support the idea that patents promote invention.
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